Italy needs to invest 118 billion euros ($131 billion) annually to decarbonise its economy but lacks the financial strategy to attract funds from private investors and to allocate money to specific measures, climate change think-tank ECCO said.
In its energy and climate plan sent to Brussels this week, the government forecast total investments worth 830 billion euros in the period 2023-2030 to help phase out fossil fuels, increase the use of renewable energy and cut carbon emissions.
Italy needs a strategy to mobilise substantial private financial resources to accompany public funds made available by the European Commission through its Recovery and Resilience Facility and REPowerEU schemes, the Rome-based think-tank said.
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